The Issue on the Enforcement of the Cooperatives Act B.E. 2542 to Non-Legal Person Credit Union

Abstract

The research aimed to study the issue on the enforcement of the Cooperatives Act B.E.2542 to non-legal person credit union, to investigate the law related to the operation of the credit union, and to explore the solution for the operation of the credit union. The findings revealed that other existing laws were comparable and enforceable for the credit union because the Cooperatives Act could not be enforced with it; however, for the operation of the credit union, laws that could be adapted were the Criminal Code such as the offences of public cheating and fraud according to the Article 343, and offences of criminal misappropriation according to the Article 352; and the Civil and Commercial Code that emphasized on the contract as well as the infringement focusing on indemnity claims. Moreover, the solution for the non-legal person credit unions’ operations should principally emphasize on the good governance, and honesty principle in order to ensure that committees or executives of the credit union could have a good effective management, achieve the maximum benefit, and prevent fraud problems of credit union administration truly.